BSP Financial (ASX: BFL) focuses on retail branch network expansion, product innovation for revenue growth

Thu 20 Jul 23, 11:02 AM | Team Kalkine

Image source: PopTika@shutterstock

Highlights

BSP Financial is a diversified financial services provider with business across seven South Pacific countries and two South East Asia countries

In FY22, BFL’s total income grew by 9.6%, driven by reopening of international borders after Covid-19 pandemic

The current focus of BFL is to innovate with the intent to enhance customer experience and expand retail network

BSP Financial Group Limited (ASX: BFL) is a financial services provider and primarily offers banking, life insurance, asset finance, corporate advisory and funds management related services. BSP claims to have the largest branch network in the Cook Islands, Papua New Guinea, Solomon Islands, Fiji, Tonga, Vanuatu and Samoa, with branches and sub-branches in towns and cities in these countries.

The banking company registered a total income growth of 9.6% in the Financial year 2022 (FY22), underpinned by an increase in interest income, foreign exchange income and improvement in transactional volumes driven by the reopening of international borders after the Covid-19 pandemic.

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